Web3 Foundation

Web3 Foundation funds research and development teams dedicated to building the foundational infrastructure of the decentralized web. Its primary focus is on nurturing and advancing open-source software protocols, with Polkadot serving as its flagship project. Polkadot is a sharded blockchain designed to enable secure cross-chain composability and scalability, complemented by initiatives like the Kusama network and the XCM messaging format, all contributing to a more robust decentralized internet.

The organization was established in 2017 by Dr. Gavin Wood, a co-founder of Ethereum and the visionary behind the "Web3" concept coined in 2014. Wood’s insight stemmed from a desire to move beyond a centralized internet model, envisioning a future where individuals reclaim ownership of their data and digital identities, fostering a more equitable and censorship-resistant online environment.

Web3 Foundation supports a broad spectrum of Web 3.0 teams and open-source developers who utilize its protocols to construct decentralized applications and services. The foundation's overarching vision is to deliver a truly decentralized and fair internet where secure global digital transactions and information exchanges are the norm, ultimately giving users full control over their digital destiny.